Authorities in North Carolina will today announce a major economic development project that is being touted to be the construction of a Toyota electric vehicle battery factory that is expected to employ about 1,750 people.
Government officials from the U.S. state says the event will welcome a new industry to an 1,800-acre plot called the Greensboro-Randolph Megasite, about 20 miles (32 km) southeast of Greensboro, with the site along a four-lane highway, having water, sewer and railroad infrastructure already available.
A Special meeting that held earlier today by the Randolph County commission was convened to fashion out ways of having incentives package for the project, and a state economic panel that must approve cash awards to companies seeking to build in North Carolina meets after that.
Toyota had in October this year announced its intention to build a new $1.29 billion U.S. factory that would produce batteries for hybrid and fully electric vehicles, with the exact location not yet announced but the renowned automaker said the plant would start making batteries in 2025, while it gradually expands through 2031.
The new plant is understood to be part the $3.4 billion Toyota has earmarked to spend in the U.S. on automotive batteries during the next decade, even though there was no statement on where the remaining $2.1 billion would be spent, but part of that likely will go for another battery factory.
Toyota says it would create a new company that will help run the plant with its subsidiary, Toyota Tsusho, with the company also helping to expand Toyota’s U.S supply chain, while also increasing its knowledge of lithium-ion auto batteries.
The Japanese car manufacturer is planning to sell 2 million zero emission hydrogen and battery electric vehicles worldwide per year by 2030, with the company also planning to sell 1.5 million to 1.8 million vehicles by 2030 that are at least partially electrified in the U.S.
Toyota at the moment offers hydrogen vehicles, hybrids and plug-in hybrid powertrains, in the U.S but has no vehicle that is solely battery-powered, something that drew the ire of environmental groups who accused the company of dragging its feet on the technology. But Toyota is unwavering, as it says it will have 15 battery electric vehicles for sale globally by 2025.
According to Toyota, about a quarter of its U.S quarter sales came from vehicles that operate at least partially on electricity, while it plans for a 70% increase by 2030.
Ayoola Faseyi, an Abuja based Journalist with interest in Technology and Politics. He is a versatile writer with articles in many renowned News Journals.
He is the Co-Founder of media brand, The Vent Republic.
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